price dropped to support lines and start bouncing back.
if you are not in any position, wait for break out to jump in
Overall , charts are bullish
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it is breaking down .…..
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17.6 is a strong support. If it holds, uptrend is still intact if not, we are going to retrace more and thing turns into bearish
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possible Elliot count if blue line holds
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good thing we have stopped at the strong support blue line. Time for rebouncing.
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positive div are on 1hr and 2hr time frame. Depending on how high the rebounce is, we can guess whether ETC will decide to drop lower again to the super strong support 14.5 or not
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tomorrow's candle is pretty important for btc. Basing on its past history, If the dump continues , it will start on tomorrow. If this is the bottom, we should either be consolidation little more and then go up
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another positive thing is that some old alts have recovered significantly and some didn't dump much yesterday. This doesn't an act of long-term bear incoming. That's why I still feel we have chance to break 6.8k and this dump is just a shake out. BTW, I am talking about btc instead of ETC because right now ETC is follow BTC and I have already pointed out the next strong support of ETC at 14.6 if it decides to drop more . Obviously, it will only reach 14.6 if btc decides to drop more.
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if we can rebound back to 0.618fib-0.768fib , that's a strong bull sign
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amazing to etc, it didn't follow btc and drop lower . Same for other alts. This should hint us something . Right now ETC is forming descending triangle . We have 2 possible scenes: 1. we have found bottom and will go up from here 2. We will do a break down and drop to 14.6 Considering how etc reacts to btc's drop and strong buy support pop up on btc below 6k. I will say 70% scene 1, 30% scene 2
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break out. If we can get passed 17$, we can confirm that the bottom of ETC is in . Reaching 17.6$ will be even amazing for a strong start :)
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ETC-BTC is more bullish than the USD version. It is currently at the resistant 0.00266, after breaking it, it should head to the previous top 0.0028. Then start forming ascending triangle and move to new high :)
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etc-btc is steadily forming ascending triangle . Still higher low. Thing looks good so far. Honestly, with the current state of alts , I don't have much worry about the bear at all
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when we breaks above 17$, thing will speed it up
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look at ETC-BTC on log scale, it broke out of the long term trendline, then drop down to retest it. And now we start going up again :)
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İşlem elle kapatılmış
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i'm moving to new post because i hate to let my readers read long post (even myself). Lol
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Barry Silbert has just revealed that 25% of his firm investment is in ETC (2nd largest one , behind BTC)
Coinbase listed ETC as an option for investment custody few days ago
Overall, we might get a surprise announcement soon that "today , we are gladly to announce that you can trade ETC on coinbase"
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ETC-USD is in a symmetric triangle . Watch out for breaking up
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In addition, ETC-BTC chart should be around bottom now. Look at the Confluence. -Elliot wave -fib
I will be very surprise that if ETC-BTC doesn't go up from here